Invesaro

Stocks STX DCF valuation

DCF valuation

What is Seagate Technology Holdings plc worth?

With the base-case assumptions below, a discounted cash flow model on Seagate Technology Holdings plc's reported free cash flow gives $205.69 per share. The share price was $916.83 on September 25, 2026, 346% above that value.

Inputs from the filings

Free cash flow, fiscal 2026
$3.11B
Average free cash flow, last 5 years
$1.3B
Cash
$1.7B
balance sheet of July 3, 2026
Debt
$3.57B
balance sheet of July 3, 2026
Diluted shares, fiscal 2026
229,000,000
Revenue growth per year, last 5 years
2.7%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear-2.5%-0.5%2.0%10.0%$124.77-86%
Base2.5%2.5%2.5%9.0%$205.69-78%
Bull7.5%5.5%3.0%8.0%$363.26-60%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$262.57$279.74$300.72$326.94$360.66
8.0%$220.28$231.41$244.56$260.35$279.64
9.0%$189.29$196.91$205.69$215.93$228.04
10.0%$165.63$171.04$177.18$184.19$192.28
11.0%$146.98$150.94$155.38$160.37$166.02

Where the presets come from

Base: years 1 to 5 grow at Seagate Technology Holdings plc's revenue growth rate over the last 5 fiscal years (2.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Seagate Technology Holdings plc company page